Aeon Vietnam announces fourth mall

Jul 2, 2015

Japanese retailer and mall operator Aeon has announced plans for a fourth mall in Vietnam.

After the success of its first centre, Celadon City in suburban Ho Chi Minh City opened in January 2014, Aeon opened another in the industrial hub of Binh Duong last November. A third mall is under construction in Long Bien, in the capital city, Hanoi.

Now Aeon Vietnam says it will build a fourth shopping centre in Binh Tan, approximately 10km southwest of central Ho Chi Minh (about 40 minutes by car) within the International Hi-Tech Healthcare Park being developed by Hoa Lam-Shangri-La. It is scheduled to open in summer.

Aeon says the park offers medical, residential, educational and commercial facilities and is expected to continue growing. The district’s transportation environment is also well-developed, with easy access to an outer ring road and an East-West Highway which can allow it to draw customers from a wide area.

The mall will have about 59,000 sqm of gross leasable floor space and parking for about 1500 cars and 4000 motorcycles. It will be anchored by an Aeon hypermarket, with 160 specialty store tenancies.

Under the Aeon Group Medium-term Management Plan (FY2014-2016), the company is pursuing a shift to Asian markets as a common group strategy. Aeon opened its first malls in Cambodia in 2014 and Indonesia in 2015.

In the meantime, Aeon established a representative in Vietnam in February 2015 to accelerate business development by unifying the group initiatives.